Valentine’s Day: Dr.Guskey’s Spending Report
3 min read
Happy Valentine’s Day from everyone at Consumer $ense! Each year, Dr. Audrey Guskey gives us the rundown of some spending statistics for this LOVEly holiday, some of which may really surprise you! From tips to save money on gifts to the most cliche facts in the book- check out Consumer $ense’s special Valentine’s Day edition spending report.
Can’t buy me love? Think again! This year V-Day spending will break all records this year – average consumer spending is up 20% from last year – to almost $200 & total spending for V-Day is predicted to be $27 BILLION – up 32% . THAT IS HUGE…. an unusually high increase and it’s due to the strong economy & the consumer trend to spend! V-Day is 4th largest retail holiday behind Christmas, back-to-school, and Mother’s Day.
1 in 4 will buy flowers (it’s the largest holiday for flower purchases); and 40% of the flowers will be roses.
Half of us will buy candy. There will be 36 million heart-shaped chocolate boxes sold!
Half of us will buy cards, which is 2nd only to Christmas. 85% of the cards are bought by women.
1 in 5 will buy jewelry. 9% of all diamonds sold for V-Day.
1 out of 3 go out to dinner and/or a movie.
Here are some Fun V-Day Facts:
Almost half of marriage proposals happen on V-Day. Can you be a little more original, guys?
Men outspend women 2 to 1. As they should?
Now men, pay attention to this one. Half of women that don’t get a Valentine gift will end relationship.
The top 3 dream gifts for V-Day are: a vacation, money, intimacy.
Here are some Unromantic Truths about V-Day Spending:
One-quarter of men spend due to obligation or are trying to get lucky.
The longer the relationship, the less you spend.
1 in 5 women buy for themselves – kinda sadL
Roses prices spike for V-Day. OUCH!
V-Day was the mastermind of two business-minded visionaries. One was Richard Cadbury of the famous Cadbury chocolates. The other was a woman trying to sell lacy heart cards.
And talk about PUPPY LOVE, 1 in 5 buy for pets.
Cheap CAN be sexy – here are my tips:
Buy Flowers from a grocery store. Much cheaper than a florist
Skip the roses – they are over priced for V-Day. Get carnations or lilies or sunflowers.
Celebrate Valentine’s Day dinner on a day other than February 14th.
Be a romantic – create memories – do fun and crazy things that don’t cost a lot.
Make it yourself – an electronic photo album or a card sharing how you feel means more than any Hallmark card.
Use credit card reward points to buy the Valentine gift.
And however you celebrate V-Day, remember it’s the love in your heart that means the most! From all of us here at Consumer $ense, Happy Valentine’s Day!
For more tips and marketplace updates: